Hello Collateral Network Community!
We’re excited to announce that we’ve just released a new video on our YouTube channel that delves into the fee structure of the Collateral Network platform. If you’re more of a visual learner, you can watch the video (https://youtu.be/zombuxZsYMg).
Why Fees Matter
Understanding the fee structure is crucial for both lenders and borrowers on any platform. It’s especially important in a decentralised ecosystem like Collateral Network, where transparency and fairness are key. So, let’s break down how the fee system works on our platform.
Fees for Non-COLT Token Holders
If you’re not a COLT Token holder, the fees are straightforward:
- Borrowers: 2.5% of the loan advance
- Lenders: 2.5% of the loan advance
Reduced Fees for COLT Token Holders
Holding COLT Tokens comes with its perks, including reduced platform fees. The amount of reduction depends on the number of tokens you hold:
Visionary (75,000+ COLT Tokens)
Visionaries do not pay any fees, whether they are borrowers or lenders.